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Tuesday, November 22, 2011

T. Rowe Price Plans to Add Third-Party Distribution Staff

Reported by Armie Margaret Lee

T. Rowe Price plans to grow its third-party distribution group next year.

Third-party distribution will be an "area of some investment in personnel in 2012," said T. Rowe Price chairman and chief investment officer Brian Rogers in an interview with The MFWire.com on Tuesday. "We will gently and moderately expand that," he said.

Rogers was in New York City for T. Rowe Price's 2012 investment and economic outlook press briefing at the Princeton Club.

T. Rowe hired former Fidelity executive Scott David in May to run third-party distribution. David replaced John Cammack, who retired from the company in 2009.

On the call center and service side, Rogers told The MFWire that two additional T. Rowe facilities in its Owings Mills, Maryland campus will "probably open some time in 2013." The T. Rowe campus has six buildings, four of which are occupied.

"We have two buildings almost ready to go as our business grows," Rogers said. 

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